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Strat's PASR Long Term, Stress Free Trading

  • #7,281
  • Oct 2, 2018 4:22am Oct 2, 2018 4:22am
Quoting strat
PASR {quote} Thank you, Suranga - TRADERS HELPING TRADERS What I mean by Paper Trading is this: With a REAL, LIVE account funded by REAL, hard earned money, identify the PASR Set Up and then, in your Trading Journal write: EURJPY Worker September 11, 2018 THE PLAN Enter long at 130.05 with "x" size and "y" positions on a STOP with a STOP LOSS at 127.80. Take Profit at BRN 133 Take a snapshot of the chart with these positions marked on it and paste in your Trading Journal. Each day, write in your Trading Journal, the trade's progress and any movement...

Thank you Strat, and Suranga.

Indeed crystal clear.

  • #7,282
  • Oct 2, 2018 4:36am Oct 2, 2018 4:36am
Quoting bistolis
{quote} you can disable the ADR indicator on the daily and it will not work for larger timeframes as well (you will need to go to the settings of ADR and choose the lower timeframes, or delete it from the chart and save the template afterwards) you should use the ATR indicator I think for the stress free timeframes {file}
ATR2

Although it is loaded I just can't see it on my chart
  • #7,283
  • Oct 2, 2018 4:42am Oct 2, 2018 4:42am
Quoting Mhons
{quote} Hello Larry, nice new bright template to watch I have doji in my chart that is in the down swing on worker, crossed strat shadow and right now supported on the way to Support, supported by Boss {image}
And here is my entry on H4 TF after bearish engulfing bar after shake out outside bar from big boys (in my opinion)

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH4.png Size: 49 KB
  • #7,284
  • Oct 2, 2018 4:46am Oct 2, 2018 4:46am
Quoting LarryK
{quote} ATR2 Although it is loaded I just can't see it on my chart
some things are overlapping on your chart
fiddle around with the options of the indicators and adjust them to how you like them and then save your template
Attached Image


EDIT: oops I thought it was larrys chart. my apologies. I am clicking around too fast

you can barely see it on your chart larry. change the font color
Attached Image
  • #7,285
  • Oct 2, 2018 4:52am Oct 2, 2018 4:52am
Quoting bistolis
{quote} some things are overlapping on your chart fiddle around with the options of the indicators and adjust them to how you like them and then save your template {image}
ATR2

Problem solved, colour was white same as my chart, fixed now visible.

What sets the number in brackets and what should it be and why would you use a higher or lower number there?
What does it tell me?
  • #7,286
  • Edited 6:14am Oct 2, 2018 4:59am | Edited 6:14am
Quoting LarryK
{quote} ATR2 Problem solved, colour was white same as my chart, fixed now visible. What sets the number in brackets and what should it be and why would you use a higher or lower number there? What does it tell me?
Attached File(s)
File Type: tpl strat.tpl   3 KB | 1,179 downloads

you can try this template as well. I adjusted the atr to 10
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 59 KB


the number in the brackets is the number of candles you want. if it is 10 it just means that the indicator will display the average range of the last 10 candles (days for the above chart)
I noticed on your chart that it displays a candle for sunday. I believe it will affect the average

(I edited this post multiple times. just for your information )
  • #7,287
  • Oct 2, 2018 7:19am Oct 2, 2018 7:19am
EURUSD M15 PASR Trend Trading:




Happy Trading,
Yomi.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDM15.png Size: 32 KB
Time always comes before price
  • #7,288
  • Oct 2, 2018 7:25am Oct 2, 2018 7:25am
Quoting fxrabbi
EURUSD M15 PASR Trend Trading: Happy Trading, Yomi. {image}
Yomi making the ATM pay like clockwork
  • #7,289
  • Edited 8:02am Oct 2, 2018 7:51am | Edited 8:02am
Reflection of my decision making on CAD pairs for past 2 weeks

GBPCAD
BB
Is in down trend anyway. I did not think about shorting it due to August long wick candle.
B
As I think the momentum on BB is up, BEEB and wick red candle being read as against BB. With Brexit issue, I did not spend too much time on this pair.
W
It was really a mess for past 2 weeks. Especially after my BB and B study, I did not really spend too much time on this pair.
=> May be valid reason?

EURCAD
BB
Same as GBPCAD. I did not think about shorting it due to August long wick candle.
B
A couple of doji on last month. August 19th BUEB after the hammer really convinced me that no short trade are allowed.
W
With the study of BB and B, I ignored the BEEOB on September 27th.
=> Do not have enough understanding of PASR.

USDCAD
BB
I know is bearish.
B
I know is bearish.
W
Did not trade as I keep thinking Strat Shadow and 200ema going to be support. Shooting star of September 27 could be a good one but I think it is still supported by strat shadow. After the confirmation candle close, there goes the gap.
=> FEAR

CADJPY
BB
I know is uptrend.
B
I know is uptrend.
W
September 18th was too worried about SR. Then when price fly, there isn't really any PA on daily chart for entering. (I am pretty sure even if there are, I am probably worry about SR around 87.5 though)
=> Do not have enough understanding of PASR.

NZDCAD
BB
I know is downtrend, but worry about support.
B
BUEB scared me in a downtrend.
W
No bearish PA since Sept 6.
=> Do not have enough understanding of PASR.

Thoughts: While the discipline keep me out of bad trades, it is also reducing amount of practice I have on actual trade?



And best wishes that Trogger will soon be back to doing all the things he love.
  • #7,290
  • Oct 2, 2018 7:57am Oct 2, 2018 7:57am
Quoting strat
EURAUD {quote} what was the PA in that candle? Could you give more details about the reason why you would have entered on that candle {image} I don't understand. Are you referring to my reply to JCMPete? That entry I showed him was on H4 - you are discussing the Boss.
Sorry Strat for my poor explanation. What I meant was based on your reply to Pete (based on the chart you just posted to me on your last post)

So, I asked why that candle pointed out to get short? Since I don't see is a BEEB, a BEOB, ShootingStar or IB.
And also it didn't happen near to StratShadow (IMHO), didn't close below EMA200, etc..
Could we consider it as a spinning top? (as explained in post 4968) not sure if that candle suits as that.

Also, what I said regarding WCC was that as I have marked my BOSS with a WCC and that candle happened at the bottom of it, I wouldn't have entered short due to it.

I'm still in the office but I wanted to get back to you with this. I'll upload a screenshot once I'm at home if needed.

Happy trading for all intraday traders!
IF IT DOESN'T FEEL RIGHT - IT'S NOT RIGHT!
  • #7,291
  • Oct 2, 2018 9:02am Oct 2, 2018 9:02am
that is the new carry trade combination ?
Attached Image
  • #7,292
  • Edited 9:36am Oct 2, 2018 9:25am | Edited 9:36am
Only If I was watching the charts today..

Attached Image (click to enlarge)
Click to Enlarge Name: 55.png Size: 37 KB


Attached Image (click to enlarge)
Click to Enlarge Name: 56.png Size: 34 KB


Suranga


P.S. I know GBP is bit risky these days..but still beautiful M5 PASR trend........
Focus, Patience, Discipline, Determination and Perseverance
  • #7,293
  • Oct 2, 2018 9:28am Oct 2, 2018 9:28am
Quoting bistolis
that is the new carry trade combination ? {image}
Well, not a bad idea at all but price is near to ressistane in up swing with 1000pips travelled, I guess even with carry trades you should consider PASR to get better price at least and not suffer from drawdown
But I am not master of carry trades, just my opinion

Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYMonthly.png Size: 43 KB
  • #7,294
  • Oct 2, 2018 9:31am Oct 2, 2018 9:31am
Quoting Mhons
{quote} Well, not a bad idea at all but price is near to ressistane in up swing with 1000pips travelled, I guess even with carry trades you should consider PASR to get better price at least and not suffer from drawdown But I am not master of carry trades, just my opinion {image}
the carry trade is not about trading really
the big boys grabing loans from Japan and buying assets in the US, that's more or less simply put
although they need to exchange all that YEN into $$ ( but i guess you know that )
  • #7,295
  • Edited 12:28pm Oct 2, 2018 9:40am | Edited 12:28pm
GBPUSD

Quoting LarryK
GBPUSD daily As requested my new Strat type chart for comment. I do like that pin or hammer yesterday right on BRN 1.3, lets see what happens now. {image}
I do like that pin or hammer

Come on, Larry, you should know better than that!

There are NO ''pin bars" in PASR - only HAMMERS and SHOOTING STARS

You must be another who did not read my Posts 6679, 6676 and 6683

That candle is a type of gravestone doji in that Swing down from BRN 1.33 on September 20, 2018 telling us that it is a CONTINUATION candle.

Your template is using the 63 ema where mine and most are using 72 ema but the choice is yours.
15 YEARS OF PASR ON FOREX FACTORY!
  • #7,296
  • Oct 2, 2018 9:45am Oct 2, 2018 9:45am
GBPUSD

Quoting JCMPete
Good day All Here is another paper trade on GbpUsd I am looking at. All comments are welcome... Big Boss: Currently at Support, immediate trend is still down Boss: Halted at same support level. Attempts from buyers to drive price up unsuccessful. Worker: Price currently at same support level from Boss and Big Boss. Making lower high and lower low after failing to breach resistance at 200 EMA. My view is to go short if price closes below Support. I am using the 4 hour chart for the trade entry. Regards Pete {image} {image} {image} {image}
Good analysis, Pete
15 YEARS OF PASR ON FOREX FACTORY!
  • #7,297
  • Oct 2, 2018 9:51am Oct 2, 2018 9:51am
GBPUSD

Quoting Mhons
{quote} Hello Larry, nice new bright template to watch I have doji in my chart that is in the down swing on worker, crossed strat shadow and right now supported on the way to Support, supported by Boss {image}
right now supported on the way to Support

Good, but be careful. This is not support on the Worker, only the "Wobble Area" on the way down to Boss support.
15 YEARS OF PASR ON FOREX FACTORY!
  • #7,298
  • Oct 2, 2018 9:57am Oct 2, 2018 9:57am
Volume

Quoting bistolis
hi all this is my broker's data on volumes during the day {image}
Do NOT trust any data from anywhere on volume.

Forex does not have a single exchange like Futures and Commodities so it is IMPOSSIBLE to accurately measure volume.

As Forex traders, all we need to know is:

London Big Boys have the highest volume and $

New York Big Boys are the next highest in volume and $

The rest are so small except for Asian trading where Forex Big Boys could soon be appearing.
15 YEARS OF PASR ON FOREX FACTORY!
  • #7,299
  • Oct 2, 2018 10:49am Oct 2, 2018 10:49am
GBPUSD H4

Quoting Mhons
{quote} And here is my entry on H4 TF after bearish engulfing bar after shake out outside bar from big boys (in my opinion) {image}
So, you are a RISK TAKER!

While it worked out for you this time, it will NOT over the long term. This is the sort of trading I used to do when I was a "young gun" - then I learned my lesson - Rule No 1!

You correctly identified that 105 pips Outside Candle but failed to recognise that it was 2.5 times ATR (10) telling us of huge volatility.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH4.png Size: 42 KB


Take a closer look at that Outside Candle - it had a 20 pips body, a 40 pips wick and a 48 pips tail. That is an "over grown" doji showing indecision with the buyers showing more strength than the sellers.

Did you have a PLAN when you traded this or was it a sudden Adrenalin rush of blood?

Let's look at your trade.

You traded an Inside Candle inside a huge volatile, with no direction, candle.

The ""accepted"" and widely used rule for trading off an Inside Candle is to enter with a Stop Order above/below the previous candle's extremes - see my yellow lines on your chart. You did not do this. On another day you would have been whipsawed about.

Next, you placed your Stop Loss above the high of the Inside Candle - the EASIEST way to LOSE 100 pips!

Are you sure you are on THE PATH?

PASR traders enter Stop Loss orders above/below Swing Highs/Lows or Support/Resistance - you did neither. Your Stop Loss should have gone above the top yellow line.

Had you done this you would have SEEN that your R:R was UPSIDE DOWN - 100 pips RISK for 70 pips reward.

Add to this that you are trading the most sensitive pair on the Planet due to the Brexit mess. This pair is as sensitive as the nipples on a horny nymphomaniac!

Yes, you were LUCKY this time, this is just the Market "sucking" you in for later slaughter.

To be consistently profitable you MUST respect our Rule No 1 and trade only "sore thumb" set ups with at least 2:1 Reward to Risk.
15 YEARS OF PASR ON FOREX FACTORY!
  • #7,300
  • Oct 2, 2018 10:57am Oct 2, 2018 10:57am
EURUSD M15 PASR Trend Trading 51 pips

Quoting fxrabbi
EURUSD M15 PASR Trend Trading: Happy Trading, Yomi. {image}
Wonderful, Yomi. I have been sat watching the JPY pairs in some sort of Corrective Wave going nowhere so M5 trading is over for me today.
15 YEARS OF PASR ON FOREX FACTORY!
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